Posted on 09/25/2008 6:01:41 AM PDT by Soliton
"Although the national home ownership is at a record 66.8 percent, the rate of home ownership for minority Americans remains substantially lower," said Franklin D. Raines, Fannie Mae's chairman/CEO. "Through our partnership with the NAACP, we will provide information and assistance to underserved borrowers on a wide range of affordable mortgage products, financial counseling services, and underwriting flexibility's that put home ownership within their reach." Raines added that during the past five years, Fannie Mae has helped the NAACP generate more than $129 million in mortgage financing for its clients. This new initiative could double or triple that amount.
(Excerpt) Read more at findarticles.com ...
Good find. A fine DemocRAT-created mess.
They have already shown where Raines cooked the books and took a quick exit left and dumped the mess on someone elses shoulders. He also walked away with millions in departure funds.
Here is more of this Dem mess.
http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63
“The League for Industrial Democracy (LID), the National Association for the Advancement of Colored People (NAACP) and the American Civil Liberties Union (ACLU), are the three most important socialist fronts organized in the United States during the first quarter of this century. The record of their formation reveals how closely socialists and communists worked together for their common objective - utilizing the Fabian technique of deception.”
http://www.devvy.com/beatty_19991006.html
“And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet.
For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.
All these are the beginning of sorrows.
But, of course, the financial woes created by Fannie Mae are entirely Wall Street’s fault. Wait, I left out Bush.
Democrats only lie when their mouths are moving.
Typo fixed.
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